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Crédit Agricole Egypt postpones over 120,000 facilities amid COVID-19 battle Banks records sharp 45% increase in company' digital transactions and 35% for individuals
Crédit Agricole Egypt has announced the postponement of over 120,000 corporate and individual facilities, including loans and credit cards. The move comes in the context of the economic fallout of the novel coronavirus (COVID-19) pandemic. As a result, the bank has mobilised to protect its staff and support its customers and community in line with its Group mission and in implementation of the Central Bank of Egypt (CBE) decisions. The bank has also proceeded with the ATM withdrawal fees and transfer fees waiver, as part of the CBE measures to ensure the containment of the virus' spread. To minimise risk of infection, Crédit Agricole Egypt has encouraged its customers to use its multiple digital channels, including banki Mobile, banki Lite and banki Online for individuals and banki Business. During the health crisis and in comparison with the same period in 2019, the bank has now recorded an outstanding 45% increase in the number of digital transactions for companies and 35% for individuals. This increase reflects the effectiveness of the bank's fully fledged platform of digital services, banki by Crédit Agricole, in which 1 out of 3 customers are registered. Pierre Finas, Managing Director of Crédit Agricole Egypt, said, "In the face of the crisis, Crédit Agricole Egypt has reaffirmed its commitment towards its staff, customers and community. Since the start of the current health crisis, the bank's management has been mobilised to ensure all banking services remain available for our customers, while safeguarding their safety, as well as the safety of our staff, whom we have to thank for their dedication and hard work during this critical time. The bank has taken all sanitary and disinfection measures to protect its employees and customers''. Finas added, "We have aligned with CBE decisions and we deemed important to communicate with all our clients from day one of the coronavirus outbreak, to respond to their inquiries and provide the necessary information via the bank's website and social media platforms." Finas also noted that the bank's contribution to the community has covered the whole spectrum of the impacted population. This has included patient treatment, protection for healthcare professionals and support for daily workers in implementation to its strategy aiming to achieve sustainability. In this context, the bank rolled out an innovative Ramadan campaign under the slogan "Protect yourself and you will protect others''. The campaign was aimed at motivating customers to protect themselves using the bank's digital services and payment cards. For every financial transaction, the bank presented a contribution to support daily workers through the Egyptian Food Bank as well as in favour of protection for healthcare professionals through Ahl Misr. The bank had earlier announced a number of social initiatives to help overcome the repercussions of the coronavirus outbreak. These initiatives included a cooperation protocol signed between the CA Egypt Foundation for Development and Ahl Masr Foundation. Under this project, the bank provided funds for an intensive care unit (ICU), as well as for the purchase of artificial ventilators, syringe pumps, and X-ray machines for a number of public hospitals. This was aimed at helping the Ministry of Health treat coronavirus patients. The CA Egypt Foundation has also participated in the ‘Kheir w Baraka' initiative to support daily-wage workers. Crédit Agricole Egypt had earlier announced the launch of a new initiative, titled "Shokran", which is aimed at supporting doctors and other healthcare sector workers. Under the initiative, the bank exempted medics from all administrative fees on loans, credit cards and accounts. It was also among the first banks in Egypt to take precautionary measures to protect employees and clients, which included periodic sterilisation of all ATMs, using sanitisers and distributing masks and gloves among employees at all its bank branches. The bank also intensified its sterilisation activities and placed signs for social distancing inside branches and at ATMs.
